NIC anticipates senior housing occupancy recovery to reach pre-pandemic levels in the second half of 2024 and sees owners and operators soon determining when to "jump start" new construction to meet demand.
The current environment of robust absorption coupled with relatively moderate new inventory is driving the momentum, said senior principal Caroline Clapp in the report.
The senior housing occupancy rate for the 31 NIC MAP Primary Markets increased 0.8 percentage points from 84.3% in Q3 2023 to 85.1% in Q4, according to NIC MAP Vision.
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